Park City Group (PCYG) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research cut shares of Park City Group (NASDAQ:PCYG) from a hold rating to a sell rating in a research report sent to investors on Wednesday.

According to Zacks, “Park City Group offers a robust set of solutions and it capitalizes on its prestigious user base as customers rapidly deploy and license additional software for their multi-location businesses. Park City Group was founded by Randy Fields, the co-founder and former chairman of Mrs. Fields Cookies. Public since May 2001, the company’s strategy is to rapidly expand its market share within the grocery and specialty retail sectors. “

Park City Group (NASDAQ PCYG) traded up $0.60 during trading on Wednesday, reaching $11.30. 112,900 shares of the company traded hands, compared to its average volume of 72,475. The stock has a market cap of $210.13, a price-to-earnings ratio of 82.31, a price-to-earnings-growth ratio of 2.32 and a beta of 1.11. Park City Group has a one year low of $8.10 and a one year high of $16.10. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.05.

A number of hedge funds have recently bought and sold shares of PCYG. Pembroke Management LTD bought a new position in Park City Group in the 4th quarter worth approximately $5,239,000. Uniplan Investment Counsel Inc. boosted its position in shares of Park City Group by 602.3% during the 3rd quarter. Uniplan Investment Counsel Inc. now owns 590,569 shares of the technology company’s stock valued at $7,175,000 after acquiring an additional 506,477 shares during the last quarter. Essex Investment Management Co. LLC bought a new position in shares of Park City Group during the 3rd quarter valued at approximately $967,000. Wedbush Securities Inc. boosted its position in shares of Park City Group by 58.0% during the 4th quarter. Wedbush Securities Inc. now owns 114,756 shares of the technology company’s stock valued at $1,096,000 after acquiring an additional 42,118 shares during the last quarter. Finally, Parsons Capital Management Inc. RI boosted its position in shares of Park City Group by 15.2% during the 3rd quarter. Parsons Capital Management Inc. RI now owns 153,575 shares of the technology company’s stock valued at $1,866,000 after acquiring an additional 20,300 shares during the last quarter. Institutional investors and hedge funds own 33.44% of the company’s stock.

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Park City Group Company Profile

Park City Group, Inc is a software-as-a-service (SaaS) provider. The Company delivers its services through software products designed, developed, marketed and supported by the Company. The Company also has a Professional Services business, which conducts customization, implementation and training. The Company has approximately two services groups, such as The Business Analytics Group and The Professional Services Group.

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